Hikma predicts 40% sales hike for 1st half

In a pre-closing statement, London-listed Jordanian drugmaker Hikma Pharmaceuticals, said that it has seen continued growth in the year to date, and is expecting to post a 40% expansion in revenues for the first half of the year. The firm also revealed that its gross margins for the period may reach around 50%.

Hikma said that its branded pharmaceuticals business, which mainly operates in the Middle East and North Africa (MENA), has been performing ahead of expectations, and forecast expansion of 60%. The firm added that this was driven by organic growth of around 30% plus the contribution from its recently-acquired Saudi subsidiary, JPI.

Hikma added that underlying growth in its injectable business should reach 20%, with the recently-purchased Ribosepharm and Thymoorgan operations (Marketletter January 29) providing a foundation for expansion. The firm also said that, based on new product launches and higher volumes, it expects to see its sale of generic drugs in the USA increase slightly on the figure it recorded in the first half of 2006.